Party "Steps" Tournaments

[Mouse1949]

Given the structure of the Steps Tournaments, it looks like Pros could have a sweet time of it just buying into the last step for $1000. This makes the hurdle for the player who comes up the steps MUCH harder than it might look. Any opinions? Also, if you play the Steps, what is the "optimal" entry point --- my quess is that it really is Step 4 or perhaps Step 5, but I am hoping that someone has done some simulations.

[fnord_too]

I think step 4 is probably optimal (providing you have the bankroll), but I was starting at step 3 because I play so few one and two table tournies now and I was being cheap. (Of course, I think I have convinced myself that buying in at step three is not really a bargain since.)

[Runner Runner]

If it is worth your time, you can buy in to the lower steps where the play is quite poor and get quite an overlay because of the mistakes the players are making when they aren't using correct satellite tournament strategy. Getting a good overlay is key, I figure on average a good player can obtain a step 4 buyin at half price if you start on step 1. With this kind of discount, you wouldn't have to worry because you could have a negative ROI on steps 4 and 5 and still make a substantial profit over the long run. Unfortunately it may take a very long time to reach the long run, and the quality of play in these tournaments will improve at all steps as people adjust.

[fnord_too]

[ QUOTE ]
If it is worth your time, you can buy in to the lower steps where the play is quite poor and get quite an overlay because of the mistakes the players are making when they aren't using correct satellite tournament strategy. Getting a good overlay is key, I figure on average a good player can obtain a step 4 buyin at half price if you start on step 1. With this kind of discount, you wouldn't have to worry because you could have a negative ROI on steps 4 and 5 and still make a substantial profit over the long run. Unfortunately it may take a very long time to reach the long run, and the quality of play in these tournaments will improve at all steps as people adjust.

[/ QUOTE ]

1/2 the price, good lord that means you buy into 22ish step 1's and go through many many ups and downs before emerging at step 4. That would be like 80 hours for $250.

[HoldingFolding]

Mighty fine point! (http://www.dti.gov.uk/er/nmw/)

[docknet]

Hmm...

I am by no stretch a pro. So far I've made it to Step 4 after my third Step 1 buyin. So that's $36 and about 8-10 hours.

So far the sessions have been very soft, with only a few of the crazies I encounter in regular low-cost SnGs. In fact, after the first 4 or 5 would-be Gus Hansens get knocked out, players become very tight and careful, making it easy for even short stacked players to stay alive by going allin now and then to keep up with the blinds.

I'm going to play Step 4 tonight. I've been waiting to see some awsome playing as I move up the steps, but maybe I just don't know what to look for.

[Gigabet]

Just jump right into step 5, take the plunge!!